Central bank, the Reserve Bank of Malawi has identified a forensic auditor to audit transactions of Alliance Capital Limited as part of liquidating the company.
The Reserve Bank of Malawi has identified Grant Thornton Consulting Limited as the forensic auditor.
This follows a Court order by the High Court in Blantyre on Friday that the company should be liquidated for being found to be an unsound financial institution to transact in Malawi.
Aside from identifying the auditor, RBM has also requested proof of debt claims and will start meeting investors.
Alliance Capital Limited was trusted by a number of institutions, including Malawi Electoral Commission and Nico Asset Managers and individuals who invested billions of kwacha in it.Follow and Subscribe Nyasa TV :